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USD/JPY Swings Into Loss

JPY

USD/JPY has reversed gains registered into the Tokyo fix and swung back into negative territory. Gotobi day flows may have provided a mild tailwind into the fix. The rate last sits -5 pips at Y104.54, yesterday's extremes remain intact & familiar technical levels remain in play.

  • Risk barometer AUD/JPY is virtually unchanged, last deals at Y80.94, even as S&P 500 e-minis printed another record high. Feb 8 high of Y81.19 provides the initial layer of resistance, while bears keep an eye on yesterday's low of Y80.65.
  • CNH/JPY has edged lower, extending its pullback from recent cycle highs. It last trades at Y16.2740, ~100 pips worse off on the day. A dip through Feb 9 low of Y16.2595 would open up Feb 1 low of Y16.1745. Bulls look for a clearance of Feb 8 peak at Y16.3843.
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